S. 1234Senate110th Congress (2007-2009)In Committee

Stop Business with Terrorists Act of 2007

Introduced April 26, 2007

Legislative Activity

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2 earlier actions
SenateIntro Referral Latest Action

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S5214)

April 26, 2007

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SenateIntro Referral

Introduced in Senate

April 26, 2007

SenateIntro Referral

Sponsor introductory remarks on measure. (CR S5214)

April 26, 2007

SenateIntro Referral

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S5214)

April 26, 2007

Floor Debate

13 members

What members said about S. 1234 on the floor

3 Republicans10 Democrats
Lisa Murkowski
Sen. Lisa MurkowskiR-AK · Apr 26, 2007

Mr. President, I rise to speak about legislation I am introducing entitled the School Accountability Improvements Act. We all know about No Child Left Behind, the Federal legislation that was…

Christopher J. Dodd
Sen. Christopher J. DoddD-CT · Apr 26, 2007

Mr. President, I rise to introduce the College Saver's Credit Act, a bill designed to open the dream of higher education to many more Americans. Few choices in life have the economic consequence as…

Daniel K. Akaka
Sen. Daniel K. AkakaD-HI · Apr 26, 2007

Mr. President, today I, along with my good friend and ranking member, Senator Craig, introduce comprehensive legislation to improve the capacity of the Department of Veterans Affairs to care for…

Richard J. Durbin
Sen. Richard J. DurbinD-IL · Apr 26, 2007

Mr. President, I ask unanimous consent that the text of the bill be printed in the Reord. Mr. President, I rise today to introduce the Campus Law Enforcement Emergency Response Act of 2007. This…

Edward M. Kennedy
Sen. Edward M. KennedyD-MA · Apr 26, 2007

Mr. President, today I am pleased to introduce the Protecting America's Workers Act. This week, on Workers' Memorial Day, we remember those who have been killed or injured on the job, and we reaffirm…

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Benjamin L. Cardin
Sen. Benjamin L. CardinD-MD · Apr 26, 2007

Mr. President, today I am introducing legislation that will improve mutual aid agreements for the National Capitol Region. Senators Mikulski and Warner are original co-sponsors of my bill. The…

Larry E. Craig
Sen. Larry E. CraigR-ID · Apr 26, 2007

Mr. President, I rise today as the Ranking Member of the Senate Committee on Veterans' Affairs to join my distinguished colleague, Senator Akaka, who serves as the Chairman of the Committee, in…

Jon Tester
Sen. Jon TesterD-MT · Apr 26, 2007

Mr. President, I rise here today to introduce the Biofuel Crop Insurance Act to provide a safety net to innovative American farmers. America's addiction to foreign oil is one of the greatest threats…

Jack Reed
Sen. Jack ReedD-RI · Apr 26, 2007

Mr. President, today I am introducing the Preparing, Recruiting, and Retaining Education Professionals (PRREP) Act to improve education and student achievement through high-quality preparation,…

Joseph I. Lieberman
Sen. Joseph I. LiebermanD-CT · Apr 26, 2007

Mr. President, today, Senator Brownback, Senator Akaka, and I are introducing legislation that establishes a wildlife global animal information network for surveillance to enhance preparedness and…

Hillary Rodham Clinton
Sen. Hillary Rodham ClintonD-NY · Apr 26, 2007

Mr. President, in recognition of National Crime Victim's Week, I am proud to reintroduce the ``Compassionate Assistance for Rape Emergencies Act,'' a bill that will help rape and incest survivors…

Frank R. Lautenberg
Sen. Frank R. LautenbergD-NJ · Apr 26, 2007

Mr. President, I am pleased to introduce the Stop Business With Terrorists Act of 2007. Senator Clinton is joining me as an original cosponsor of this important bill. This bill will shut down a…

Frank R. Lautenberg
Sen. Frank R. LautenbergD-NJ · Apr 26, 2007

Mr. President, I am pleased to introduce the Stop Business With Terrorists Act of 2007. Senator Clinton is joining me as an original cosponsor of this important bill. This bill will shut down a…

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Chuck Grassley
Sen. Chuck GrassleyR-IA · Apr 26, 2007

Mr. President, I ask unanimous consent that a bill introduced by me today to amend the Internal Revenue Code of 1986 to clarify student housing eligible for the low-income housing credit, and for…

Bill Text

Latest available legislative text

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Introduced in SenateIssued April 26, 2007

II

110th CONGRESS

1st Session

S. 1234

IN THE SENATE OF THE UNITED STATES

April 26, 2007

Mr. Lautenberg (for himself and Mrs. Clinton) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs

A BILL

To strengthen the liability of parent companies for violations of sanctions by foreign entities, and for other purposes.

1.

Short title

This Act may be cited as the Stop Business with Terrorists Act of 2007.

2.

Definitions

In this Act:

(1)

Entity

The term entity means a partnership, association, trust, joint venture, corporation, or other organization.

(2)

Parent company

The term parent company means an entity that is a United States person and—

(A)

the entity owns, directly or indirectly, more than 50 percent of the equity interest by vote or value in another entity;

(B)

board members or employees of the entity hold a majority of board seats of another entity; or

(C)

the entity otherwise controls or is able to control the actions, policies, or personnel decisions of another entity.

(3)

United States person

The term United States person means—

(A)

a natural person who is a citizen of the United States or who owes permanent allegiance to the United States; and

(B)

an entity that is organized under the laws of the United States, any State or territory thereof, or the District of Columbia, if natural persons described in subparagraph (A) own, directly or indirectly, more than 50 percent of the outstanding capital stock or other beneficial interest in such entity.

3.

Liability of parent companies for violations of sanctions by foreign entities

(a)

In General

In any case in which an entity engages in an act outside the United States that, if committed in the United States or by a United States person, would violate the provisions of Executive Order 12959 (50 U.S.C. 1701 note) or Executive Order 13059 (50 U.S.C. 1701 note), or any other prohibition on transactions with respect to Iran imposed under the authority of the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.), the parent company of the entity shall be subject to the penalties for the act to the same extent as if the parent company had engaged in the act.

(b)

Applicability

Subsection (a) shall not apply to a parent company of an entity on which the President imposed a penalty for a violation described in subsection (a) that was in effect on the date of the enactment of this Act if the parent company divests or terminates its business with such entity not later than 90 days after such date of enactment.